IMF Confirms El Salvador's Bitcoin Accumulation from Private Donations, Not Public Funds

The International Monetary Fund (IMF) has clarified that El Salvador's increase in Bitcoin reserves over the past year has come from private donations rather than public funds. In a recent report, the IMF stated that documentation provided by the Salvadoran government confirmed this assertion.

The report noted that since the last review of El Salvador's loan program, no public resources have been used to acquire Bitcoin, and it does not expect any further accumulation beyond the donations already documented. This statement comes amidst ongoing scrutiny of President Nayib Bukele's Bitcoin strategy, which has faced criticism from various financial institutions.

El Salvador made history in 2021 by becoming the first country to adopt Bitcoin as legal tender. However, questions surrounding the funding of its Bitcoin purchases have persisted. Bukele had previously announced plans for the government to buy one Bitcoin per day, but the source of these funds remained unclear.

The IMF's report also highlighted that the government has significantly reduced its involvement in the Chivo e-wallet, which was initially launched to promote Bitcoin adoption. Control of the wallet has shifted to a private operator, while the government retains a minority stake.

Despite the IMF's findings, El Salvador continues to promote its Bitcoin initiatives. The country reportedly holds over 7,764 BTC, an increase of approximately 1,540 BTC since June 2025. However, the IMF's assessment raises questions about whether this growth is genuinely reflective of government purchases or simply the result of private contributions.